Asian Granito India turns profitable in June qtr, sales rise by 3% to Rs 343 cr

Mumbai, Aug 7 (PTI) Leading luxury surfaces and bathware products manufacturer Asian Granito India turned profitable in the first quarter of 2024-25, reporting a consolidated profit of Rs 30 lakh against a loss of Rs 3.6 crore in the year-ago period.

The recovery was led by a 3 per cent increase in its consolidated net sales to Rs 343.2 crore in the April-June quarter of the current fiscal compared to net sales of Rs 334.8 crore in the first quarter of FY24, the company said in a statement.

The earnings before interest tax depreciation and amortisation (EBITDA) for the quarter under review stood at Rs 16.1 crore against Rs 9.6 crore in the year-ago period, the company said.

“Strategic initiatives such as the Morbi expansion, the AGL demerger, focus on retail presence, showroom expansion, among others, demonstrate the company’s strong commitment to growth,” Asian Granito India Chairman and MD Kamlesh Patel said.

The company said it is investing around Rs 73 crore to set up a mega display centre-cum- office in Ahmedabad.

Shares of the company were trading 2.27 per cent higher at Rs 76.64 on BSE in the preclose session.